Risk Strategies Expands Private Client Capabilities with Acquisition of Select Insurance Markets and Preferred Personal Insurance Agency
Aggregator and retail agency additions increase growing presence in Texas
BOSTON — Risk Strategies, a privately held insurance brokerage and risk management firm, announced the acquisition of Select Insurance Markets, LLP (SIM) and Preferred Personal Insurance Agency, LLP (PPIA), adding new resources and capabilities to its national private client practice while increasing its presence in the state of Texas. Terms of the deal were not disclosed.
SIM, founded in 2001 by its principals Robert Cox and Elizabeth Kirby, is one of the largest marketers of personal lines standard insurance products in the state of Texas. Founded in 2006, PPIA is a well-established full-service personal lines agency with an excellent reputation. Today, SIM and PPIA represent approximately $200 million in personal lines premiums.
“As a firm, we’ve maintained a clear focus on delivering specialty expertise,” noted Bob Courtemanche, Risk Strategies’ national private client practice leader. “Bringing these two operations into our national organization makes sense in that it adds new capabilities and market expertise in an important practice area, while further demonstrating our commitment to the state of Texas and the Southwest region.”
SIM provides access to national, regional and local insurance carriers for its agency partners. Operating as an extension of their sales and marketing teams, SIM educates and provides access and marketing guidance to accommodate insurance placements for its customers.
PPIA was formed as an independent retail agency focused solely on personal lines insurance needs and helps deepen Risk Strategies’ national private client practice in the state. Headquartered in Dallas, PPIA also adds depth to Risk Strategies’ Dallas operation.
“We know the power of access to resources and expertise,” said Robert Cox, co-owner, SIM-PPIA. “Joining Risk Strategies is a great way to expand our scope and provide even greater resources to our agency partners.”